Nvidia's moment of truth

No hire, no fire?

The U.S. jobs report is expected to show 85,000 positions added in May and unemployment holding at 4.3%, as economists describe the labor market as a "low hire, low fire stalemate." Meanwhile, Broadcom's AI chip miss sends South Korean stocks toward their worst week since March and Blackstone caps withdrawals from its flagship private credit fund after redemptions top $4.5 billion. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Broadcom stumbles

Broadcom's rare earnings miss sends shares down more than 10% after hours, rattling a chip sector priced for perfection. Strong U.S. jobs and activity data push markets to price in nearly a 50% chance of a Fed rate hike as soon as October, while the yen slides to its weakest against the dollar since July 2024. Today’s recommended read: First goes the Fed dot, then guidance - and then a hike? [https://www.reuters.com/commentary/reuters-open-interest/first-goes-fed-dot-then-guidance-then-hike-2026-06-04/], Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/] Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement [https://www.thomsonreuters.com/en/privacy-statement.html] for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmegaphone.spotify.com%2Fabout-advertisements&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cdeedd17f603f4b360c6d08dd887d4c6f%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C638816793925865321%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=wKzcMqK1Jgd8UvIvqngaWQBitV9DjLnzqGz8cs1suDw%3D&reserved=0] to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Quantum leap

Microsoft says its new quantum computing chip is a thousand times more powerful than its predecessor and that a commercially viable machine could arrive by 2029 - claims scientists are calling wildly optimistic. Meanwhile, fighting resumes in the Gulf despite a technical ceasefire, alarming energy markets. And U.S. job openings surge well beyond expectations in April. Today’s recommended read: Wild stock moves beneath an eerily calm surface [https://www.reuters.com/commentary/reuters-open-interest/wild-stock-moves-beneath-an-eerily-calm-surface-2026-06-03/], Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/] Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement [https://www.thomsonreuters.com/en/privacy-statement.html] for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmegaphone.spotify.com%2Fabout-advertisements&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cdeedd17f603f4b360c6d08dd887d4c6f%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C638816793925865321%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=wKzcMqK1Jgd8UvIvqngaWQBitV9DjLnzqGz8cs1suDw%3D&reserved=0] to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

IPO, therefore I am

Anthropic's confidential IPO filing sets off a frenzy of new listings, but Alphabet's plan to raise $80 billion in equity takes some of the shine off the excitement. Meanwhile, oil prices swing nearly five percent before retreating after Trump signals U.S.-Iran talks may still produce a deal, and U.S. factory activity hits a four-year high - raising fresh questions about inflation. Today’s recommended read: AI frenzy stokes inflation heat too, [https://www.reuters.com/commentary/reuters-open-interest/ai-frenzy-stokes-inflation-heat-too-2026-06-02/] Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/] Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement [https://www.thomsonreuters.com/en/privacy-statement.html] for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmegaphone.spotify.com%2Fabout-advertisements&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cdeedd17f603f4b360c6d08dd887d4c6f%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C638816793925865321%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=wKzcMqK1Jgd8UvIvqngaWQBitV9DjLnzqGz8cs1suDw%3D&reserved=0] to opt out of targeted advertising. Our Standards: The Thomson Reuters Trust Principles. [https://www.thomsonreuters.com/en/about-us/trust-principles.html] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Chips with everything

NVIDIA unveils an AI chip for personal computers as Jensen Huang takes the stage in Taipei. Samsung adds another 10% and South Korean exports post their fastest growth since 1984. Meanwhile, U.S.-Iran missile strikes resume and a hoped-for ceasefire memorandum shows no sign of progress. Today’s recommended read: US gasoline market set for fresh test after near-record stock draws, [https://www.reuters.com/markets/commodities/us-gasoline-market-set-fresh-test-after-near-record-stock-draws-2026-06-01/] Gavin Maguire Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/] Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement [https://www.thomsonreuters.com/en/privacy-statement.html] for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmegaphone.spotify.com%2Fabout-advertisements&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cdeedd17f603f4b360c6d08dd887d4c6f%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C638816793925865321%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=wKzcMqK1Jgd8UvIvqngaWQBitV9DjLnzqGz8cs1suDw%3D&reserved=0] to opt out of targeted advertising. Our Standards: The Thomson Reuters Trust Principles. [https://www.thomsonreuters.com/en/about-us/trust-principles.html] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]